Overview
MEMIC (Maine Employers' Mutual Insurance Company) is a private mutual workers' compensation insurer founded in 1993 through landmark Maine legislative reform. When four workers' comp carriers threatened to exit Maine's crisis-ridden market, the state created MEMIC as a policyholder-governed mutual insurer with no government funding or guarantees. Over the 32+ years since its formation, MEMIC's emphasis on workplace safety has helped reduce lost-time injuries in Maine by half and cut the overall cost of insurance by approximately 60 percent. The company has since expanded nationally through the MEMIC Group.